FxPro Platforms Comparison Table
4 stars based on
HYCM has had an illustrious history in the financial markets and is one of the oldest companies in the industry with more than 35 years of experience to its name. Henyep Capital Markets HYCM was formerly known as HY Markets and had made a significant impact in the industry by offering numerous financial products ranging from Forex trading to investments.
This HYCM review is designed to offer you better insight into the fine aspects of HYCM Forex trading operations including regulation, trading platforms, payment options, bonuses, and opening an account. The HYCM spreads for the micro account is also higher than the other accounts, and starts from 1. The Standard account with spreads starting from 1. Traders also receive trading signals on the Standard account; however, the maximum leverage is reduced to 1: Account funding and withdrawals can be performed through wire transfer, credit cards, WebMoney, UnionPay, or through local funds transfer.
HYCM should consider adding more payment options, especially e-wallets such as Forex micro account uk dubai and PayPal since modern day traders are shifting their focus away from conventional forms of payments. The minimum amount of deposit required for a Micro account is also higher than the conventional Micro accounts available with competing brokers, which can prevent small traders from choosing HYCM as their preferred FX trading partner.
HYCM spreads are also forex micro account uk dubai higher, especially since other leading STP and market maker brokers offer spreads starting from 1 pip.
The Henyep Group has its representative offices in several parts of the world. The FCA and CySEC are highly proactive in ensuring that all member firms adhere to the best financial conduct to protect the integrity of the markets. DIFC is one of the lesser known regulatory organizations that is highly intent on protecting the forex micro account uk dubai of the Middle Eastern investors, which makes it a highly respected authority in the Binary options australia 60 seconds demo account region.
HYCM offers a branded trading platform known as the PrimeTrader that provides the entire different assets through a robust and user-friendly trading platform for desktop users. The PrimeTrader was launched only recently, and the platform is still in its initial phase of testing and implementation. Being a new platform, PrimeTrader is bound to have a few bugs and issues. Therefore, it is only recommended for traders who trade with a small percentage of their equity and lower leverage, as it is easy to face significant losses if the platform freezes during high-volatile events.
For more stability in your trading, you can also choose the Forex micro account uk dubai terminal as the HYCM platform, which is the best option for forex micro account uk dubai traders and scalpers without worrying about the platform freezing up during a trade. MT4 is a tried and tested platform, and there are rarely any issues with the software.
All trading interfaces are connected to fast and efficient servers, but being a market maker model, traders should expect re-quotes and slippages, as well as extra wide spreads during both low volume and high-volatile sessions. The broker used forex micro account uk dubai provide an HYCM bonus for traders making a deposit into their live trading account, but it seems that the broker no longer offers any bonus due to the conflict of interest with clients.
Bonuses also make it difficult to make a withdrawal, as traders are required to satisfy all the terms and conditions of the bonus before initiating a withdrawal, and more often than not, traders and their brokers always get into a conflict regarding the applicable rules and policies. Nevertheless, HYCM is following the footsteps of other FX brokers by offering a loyalty program that provides a cash rebate by accumulating certain lot conditions. Such a loyalty bonus program is free of any terms forex micro account uk dubai conditions, which allows clients to withdraw their loyalty bonuses without any strings attached.
Clients can contact HYCM through three different forms of customer support channels, direct phone, email, and live chat. HYCM has been in the business for a long time and is aware of the significance of improving customer satisfaction by listening to their clients.
FCA and CySEC regulation also ensures that brokers should resolve customer complaints in a professional manner according to the stipulated rules and guidelines. If you are in the market for a trusted and reliable Forex broker that offers the market maker model, HYCM is a good choice.
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